Market News
Commercial Insurance Premium Hikes Hit Double Digits in Second Quarter
The average commercial insurance premium price increase reached double digits in this year’s second quarter, according to the Council of Insurance Agents & Brokers (CIAB’s) "Commercial Property-Casualty Market Index." Survey respondents reported slight to significant increases for all account sizes and lines of business. Read More
Insurance Gap Grows as COVID-19 Hurts Global Economic Resilience
The COVID-19 pandemic is expected to weaken world economic resilience by nearly 20 percent in 2020, while the combined insurance gap for mortality, health, and natural disaster risks is expected to reach a new high of $1.24 trillion, according to the Swiss Re. Read More
Reinsurers' First-Half Capital Shows Resilience with Slight Increase
An estimate calculated by Guy Carpenter and A.M. Best suggests that reinsurance capital demonstrated resilience at the end of the first half of 2020, showing a marginal increase of 1 percent from year-end 2019. Recovering financial markets and asset valuations during the second quarter helped shore up reinsurers' capital base. Read More
Europe's Increased Captive Interest Is No Surprise: Laurent Nihoul
Laurent Nihoul, group head of insurance at ArcelorMittal and a Federation of European Risk Management Associations (FERMA) board member leading on captive initiatives, hopes European companies have not waited too long to form captive insurance companies in the hardening insurance market. Read More
Captives, Traditional Insurers Will Evolve with Risks, Technology
With emerging risks and new technologies, the captive insurance and the broader insurance industries were already experiencing significant pressure to change before the COVID-19 pandemic. A session at the Vermont Captive Insurance Association's 2020 Virtual Conference examined how the pandemic and emerging risks promise to accelerate many of those changes. Read More